Don't Buy A Painting Business Franchise in Syracuse NY

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Painting Franchise - PaintingBusinessAcademy.com ##generated-article-tags##

Should You Buy a Painting Business Franchise in Syracuse NY ?

Don't Buy a Painting Business Franchise in Syracuse NY

• An Important Note About Our Methodology
• Learn About Our Process
• Our Story
• Why Franchise
• The Process
• Your Investment
• Problem 1 The REAL Cost of a Painting Business Franchise in Syracuse NY
• Problem 2 How Franchises Screw Your Ability to Grow Your Business
• Problems 3 Do They Really Care About What You Care About
• Problem 4 You re Buying a Job Not a Business
• With All These Problems Why do People do It
• So what now
• Understanding the Ranking
• Our Purpose
• Opportunity Guide
• Home Services Franchise Industry
• Top Painting News
• Franchise News Room
• News By Industry
• About
• Training Support
• Training
• Support
• Full Support Complete Control

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• Learn How a $1,000,000 Painting Business Works
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• The franchise fee for a territory with a population of between 175,000 and 200,000 is $44,900. If the population of your territory exceeds 200,000, you must pay an additional $500 for each 1,000-population unit (or any portion of a 1,000-population unit) in excess of 200,000.

• For example, for a territory with a population of 201,135, the total franchise fee would be $45,900 .

• The initial franchise fee is fully earned and non-refundable upon receipt.

• During the first 24 months after you purchase your first franchise, you may be eligible for a 10% discount on the then-current initial franchise fee for each additional franchise that you purchase. To be eligible for this discount, you must pay the entire franchise fee at the time you sign the Franchise Agreement for the initial franchise and for each additional franchise.

• Fresh Coat is a member of the International Franchise Association and participates in the IFA’s Veterans Transition Franchise Initiative (“VetFran Program”), which encourages franchise ownership by offering financial incentives to honorably discharged veterans of the U.S. Armed Forces. Fresh Coat offers a $2,000 discount on the initial franchise fee to veterans who meet Fresh Coat’s requirements and those of the VetFran program.

2.  Deposit:  $5,000

• You can reserve a specific territory for up to 30 days by paying a $5,000 deposit and sending Fresh Coat a signed Deposit Remittance Form. The deposit is fully earned and non-refundable upon Fresh Coat’s receipt, in consideration of its reservation and removal from the market of your territory for 30 days, and will be applied toward your initial franchise fee.

3.  Website Fee:  $95

• You must pay an initial Website Fee of $95 to cover the cost and maintenance of website(s) you will use in the operation of the business.

4.  Right of First Refusal:  $3,000

• Your Franchise Agreement does not give you any option, right of first refusal, or similar right to acquire additional franchises, but you may purchase a right of first refusal to purchase an additional franchise territory. The price for a right of first refusal is $3,000, which would be credited toward the initial franchise fee if you exercise the right of first refusal.

• A right of first refusal would give you the right to purchase a specific territory first if another prospective purchaser shows an interest in purchasing the territory within 1 year after you purchase the right of first refusal.

• You would have 7 calendar days after notice by Fresh Coat to exercise the right. Fresh Coat must receive the entire balance of the then-current initial franchise fee for the territory by the seventh day after you receive the notice.

• A right of first refusal lasts for 1 year.

5.  Royalty Fee:  6% of Gross Revenues; $300 monthly minimum

• Due Date:  Payable by the fifth day of each month.

• Paid on Gross Revenues for preceding month ending on Friday.

6.  National Branding Fund:  2% of Gross Revenues; $350 monthly minimum

• Due Date:  Payable by the fifth day of each month.

7.  Local Cooperative Advertising:  up to 3% of your Gross Revenues unless a majority of the cooperative members agree on a higher contribution

• Due Date:  Monthly.

• If an advertising cooperative is established or operating in your area, you must contribute.

8.  Transfer Fee:  the greater of either $10,000 or 3% of the purchase price, plus legal and administrative costs

• Due Date:  Prior to consummation of transfer.

• Payable when you sell your franchise; no Transfer Fee is payable for transfers to a company you form for the convenience of ownership.

9.  Lead Referral Fee:  $10,000

• Due Date:  Upon a transfer of your franchise to a buyer who was already listed in Fresh Coat’s sales database at the time you and the buyer began discussing a sale.

• Intended to partially reimburse Fresh Coat for its costs in developing leads who then purchase from existing owners.

10.  Formation of Business Entity:  variable

• Due Date:  Within 90 days after signing the Franchise Agreement.

• If you sign the Franchise Agreement individually, then you must form a business entity (such as a corporation) and assign your individual rights in the franchise to the business entity.

11.  Grand Opening Promotion:  $3,000 to $4,000

• Due Date:  1-2 months before opening.

• Before opening, you must spend at least $3,000, as directed by Fresh Coat, on a grand opening promotion.

12.  Electronic Copies of Marketing Materials:  variable

• Due Date:  Upon order by you.

• Should you request electronic copies of marketing materials, you will need to reimburse the national branding fund for its costs in creating the materials.

13.  Technology/Software License Fee:  $95

• Due Date:  Monthly.

• You must pay a fee for technology/proprietary software that Fresh Coat licenses or makes available to you for use in the operation of the business.

14.  Website Fee:  $95

• Due Date:  Monthly.

• You must pay a fee to cover the cost and maintenance of website(s) and web hosting services Fresh Coat makes available for your use in the business.

15.  Franchisee Meetings:  $350 per person

• Due Date:  Prior to attending meeting.

• Fresh Coat may hold regional and/or national meetings with its support personnel and franchisees.

16.  Late Fee:  greater of $100 or 10% of royalty or branding fee; $50 for ACH payments returned for insufficient funds; $100 for late sales reports or other business records

• Due Date:  On demand.

• You must pay a late fee on any payment or sales report that Fresh Coat receives more than 5 days late.

17.  Interest:  18%

• Due Date:  On demand.

• In addition to the late fee above, any payments more than 30 days late accrue interest at the rate of 18% per year.

18.  Audit Fee:  cost of audit, plus 18% interest on underpayment

• Due Date:  On demand.

• Payable only if audit is prompted by your failure to maintain or submit records or audit shows an understatement of Gross Revenues of at least 3% for any week.

19.  Territory Amendment Fee:  $1,500

• Due Date:  Prior to amending territory.

• If Fresh Coat allows you to amend your franchise territory, you must pay a fee to compensate it for its costs.

20.  Sales/Use Taxes:  variable

• Due Date:  Payable with your royalty or national branding fee payments.

• You must pay any state or local sales or use tax that may be assessed on the royalties, advertising fees, or other fees you pay to Fresh Coat.

21.  Reimbursements:  amount of expense advanced, plus 18% interest

• Due Date:  On demand.

• You must reimburse Fresh Coat if it pays your expenses if you fail to so do, such as rent, taxes, customer refunds, or other liabilities.

22.  Legal Expenses:  amount of expense advanced, plus 18% interest

• Due Date:  On demand.

• You must pay any legal expenses Fresh Coat incurs, including attorney fees, to enforce your Franchise Agreement.

23.  Mapping Software Updates:  $200

• Due Date:  On demand.

• Fresh Coat may, from time-to-time, need to update its internal map-keeping software to reflect demographic and population changes in your territory; if Fresh Coat does so, it may charge you a reasonable fee, not to exceed $200, to compensate it for its costs.

24.  Indemnification:  amount of expense advanced, plus 18% interest

• Due Date:  On demand.

• You must reimburse Fresh Coat fully if it is held liable for claims arising from your business.

WHY YOU OUGHT TO NOT BUY A Painting Business Franchise in Syracuse NY

If you are thinking about purchasing a painting franchise, stop today.
I'm going to damage down the essential troubles with acquiring a painting franchise business, and also the different choices you have to start a painting company.

This is based on my experience expanding a successful paint company where we considered becoming a franchise business but decided for a collaboration configuration instead. I listen to the struggles of franchisee's constantly, and also I really feel for them.



Painting Business Franchise in Syracuse NY FAQs
How much does it cost to open your own franchise?

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Are painting companies profitable?

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How much is a Five Star Painting Franchise?

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Is painting a good business to start?

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How much do painters make?

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How much money can you make owning a painting business?

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How can I start a painting business with no money?

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Is painting a good trade?

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Is a Painting Business Franchise in Syracuse NY a good investment?

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Is it hard to start a painting business?

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How can I promote my painting business?

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How do I market my painting business?

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What are the disadvantages of a Painting Business Franchise in Syracuse NY ?

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Is it better to start a painting business or buy a Painting Business Franchise in Syracuse NY ?

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BR> I do not desire you to end up in the same placement that lots of franchisees discover themselves in.
There is a far better way! We will start with the issues of a franchise business, after that we'll obtain into services.

PROBLEM # 1: THE REAL COST OF A PAINTING FRANCHISE
CertaPro Painters, Five Star Painting, 360 Painting, and also WOW-1-Day Painting are a few of the bigger franchises around.
These franchise business range from $10,000-$ 40,000 in franchise fees simply for the right to the franchise in a limited number of zip codes where you can run your franchise.
They also take 6-9% as an continuous nobility ... forever.
If you stay in business for 10 years and you create $5,000,000 in profits, this franchise winds up costing you upwards of $500,000. That's a high cost to pay.
And also obviously you obtain some support and service systems, however every little thing that a franchise business provides can be acquired via various other methods for a lot less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Syracuse NY you are acquiring the civil liberties to that business in a set area. You are appointed a tiny number of zip codes where you have the legal rights to business.
This is a HUGE issue. The simplest means to grow and also expand a paint organisation is by increasing geographically. Franchises take away this.
Painter Choice is our advertising and marketing firm. We collaborate with franchisees around the country. I always feel awful for these company owner due to the fact that they have such a hard time creating company.
A normal business in Atlanta, for example, can use our lead service in North Atlanta to produce 20-30 leads each month.
A franchisee in North Atlanta who just has the rights to 7-8 zip codes can only generate 5-7 leads per month from our lead solution.
To put it simply, if those franchisees had their very own service, they can immediately boost their organisation 3-5 times! In other terms, that implies an rise from $500,000 to $2,000,000. This is a massive restriction on your potential business development.
As a franchisee, your only alternative is to acquire more region, or such it up as well as maintain your business small.
If a person else currently has the close-by region, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and also the franchisor have actually misaligned rewards. The franchisor intends to produce as much profits as feasible due to the fact that they get paid a collection percent of profits.
As the company proprietor, your objective is to make best use of profit.
I'm a large believer in straightening rewards, and in this case, rewards are not straightened. They are playing a various video game than you are. They want to make best use of earnings in all of their areas, and market as numerous franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Allow me show you why.
Due to nobilities, your margins end up being around 10% -12% after all service expenditures.
In order to make $100k/year you 'd need to have a $1,000,000 service.
You can not have a $1,000,000 service in the little area. As well as also if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties wherefore?
That's a ludicrous amount of money to pay your franchise ... the exact same company that has an agreement that they hold over your head not permitting you to expand your organisation geographically.
They've obtained you by the spheres.
Or, you can get one more territory to expand. Once again ... I 'd instead not have to pay for the right to grow my company. That's ridiculous.
Most franchise business wind up in the $500,000-$ 600,000 range. You can most likely make $80,000-$ 110,000, sure. You additionally don't ever before have adequate margin to work with other people to run the whole service, which is one of the best advantages to building a firm.
You most likely aren't creating sufficient revenue to also employ actually solid workers. In our company, we pay regarding 5-6% to our production supervisor who manages $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. If you are only doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your production supervisor, which is not sufficient money for a solid employee.
Your alternatives are to pay a higher portion (killing your earnings margin), or get the job done yourself ( eliminating your way of life). Both of which are not really eye-catching options.
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IN SUMMARY:
You pay a whole lot of money to restrict your development, you don't obtain to build your very own thing, and also if you wish to expand geographically you need to spend for the civil liberties to do so ... presuming nobody else currently owns the legal rights to the region you are trying to get.
Due to your constraints, as well as the high royalty cost, you are dramatically limited in your capacity to grow your earnings, develop a solid group, and build a big company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business strategy
# 2-- They do it for the support and also training provided by the franchise business
# 3-- They do it for the community of various other franchisees so they aren't alone
# 4-- They do it out of concern of failure
Currently, allow's consider services. Just how can you get all the advantages without paying the steep price of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise, you can buy my company system. This is the exact organisation system we make use of and also follow in our organisation, which did over $3,000,000 in income in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and assistance. When you get begun with Painting Business Academy, you obtain access to the entire business system as well as all of the training that supports that system.

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you additionally join our exclusive members-only Facebook group. We have lots of questions asked everyday from our members.
Our area is extremely involved and also energetic.
People in our community also share their successes. Just a few days ago somebody shared a Facebook advertising strategy, word for word, that's eliminating it for their organisation.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not get rid of the fear of failing. With Painting Business Academy, you can get access to a solid company strategy, business training, and also all of the done-for-you types and also systems that are proven to develop a million-dollar painting service.
You also obtain accessibility to the remarkable area of like-minded business owners doing the very same thing as you that we spoke about previously. While you do pay 1/10th of the cost up front (on the high-end), you have NO aristocracies to pay after that.
The chance of failing is the very same whether you are in a franchise or running your very own company. When you buy a franchise business, you are taking a bigger threat, indicating there's a larger failure if you do fall short.

WHAT NOW?
Prior to you buy a franchise and also toss thousands of bucks down the toilet for a tested system, you may wish to take a look at Painting Business Academy.
Painting Business Academy is likewise a tested system to develop a million-dollar painting firm, with a area of numerous others. Additionally, there is no recurring aristocracy, as well as no geographical restrictions to development.
Obtain every one of the advantages of a Painting Business Franchise in Syracuse NY for a portion of the price. Check the program out here and also contact me if you have any type of questions.
The paint business is a wonderful company to be in! I hope you'll be a part of it quickly.
Best of luck!

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You don't necessarily need a college degree, a bunch of money in the bank or even painting business experience to start something that could become the next major success. However, you do need a strong plan and the drive to see it through.
If you're here, odds are you already have the drive, but you might not know how to start building your painting empire.
That why we are here.
1. Evaluate yourself.
Let's start with the most basic question: Why do you want to start a painting business? Use this question to guide what kind of painting business you want to start. If you want extra money, maybe you should start a side hustle. If you want more freedom, maybe it's time to leave your 9-to-5 job and start something new.
Once you have the reason, start asking yourself even more questions to help you figure out the type of painting business you should start, and if you have what it takes.
What skills do you have?
Where does your passion lie?
Where is your area of expertise?
How much can you afford to spend, knowing that many painting businesses fail?
How much capital do you need?
What sort of lifestyle do you want to live?
Are you even ready to be an entrepreneur?
Be brutally honest with your answers. This will create a foundation for everything you do moving forward, so it's better to know the truth now than later.

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